NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Symbotic Inc. (NASDAQ: SYM) on behalf of long-term stockholders following a class action complaint that was filed against Symbotic on August 14, 2024 with a Class Period from May 6, 2024 to July 29, 2024. Our investigation concerns whether the board of directors of Symbotic have breached their fiduciary duties to the company.
According to the complaint, on July 29, 2024, Symbotic announced their 3Q24 financial results and then lowered its revenue guidance for the fourth quarter and full fiscal year 2024. Symbotic attributed their change in guidance to "schedule growth and higher labor costs during the quarter." Analysts commenting on the stock questioned when management first knew and responded to the issues.
Following this news, Symbotic's stock price opened at $26.36 per share or approximately 25% below the previous day's close of $35.63 per share.
If you are a long-term stockholder of Symbotic, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
